Saturday, 26 September 2020 | 07:14
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JXTG head: supply cuts for June loading by oil producers bigger than expected

Friday, 22 May 2020 | 23:00

The head of JXTG Holdings Inc , Japan’s biggest oil refiner, said on Friday that the volume of term supply cuts by oil producers for June loading was bigger than anticipated.

“We can’t disclose how much volume of supply was reduced, but it was bigger than we had expected,” Tsutomu Sugimori, president of JXTG Holdings, told a news conference.

Sugimori, who became the new president of the Petroleum Association of Japan (PAJ) on Friday, said earlier this week that Saudi Aramco and other oil producers have cut supplies to JXTG.
Source: Reuters (Reporting by Yuka Obayashi; Editing by Muralikumar Anantharaman)

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